** For Immediate Release ** FoodTrade ESA Challenge Fund Round 3 Open for Agricultural Trading Businesses in East & Southern Africa ...
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** For Immediate Release **
FoodTrade ESA Challenge Fund Round 3 Open for Agricultural Trading Businesses in East & Southern Africa
8 April 2015
Food
Trade East and Southern Africa (FoodTrade ESA) today launched a new
funding window to support businesses dealing with aggregation in staple
grain value chains in nine countries-- Kenya, Uganda, Tanzania, Rwanda,
Burundi, Zimbabwe, Zambia, Mozambique and Malawi.
The Challenge Fund Window provides grants to private sector companies--
up to 49% of the total investment cost-- that can be combined with own
investment and/or bank and other financing sources. These challenge fund
grants encourage businesses to innovate in risky areas by providing
seed capital to test new ideas in the region. The granted investments
make it easier for companies to secure additional funding from banks or
other investors. This funding round is aimed at companies that aggregate
grain and work with farmers to adopt higher grades and standards.
John Waibochi, CEO of Virtual City, a FoodTrade ESA Challenge Fund
Grantee stated: “The online system we used to submit for our grant
application was very well designed and easy to use. Unlike most online
application systems I was able to complete it without the need of any
assistance. I believe it forms a solid platform for applicants to be
able to engage with FoodTrade irrespective of their location and do so
at their convenience and time.”
A 5-year trade enhancement and promotion programme funded by the UK
Government with a focus on staple food crops, FoodTrade ESA works with
private sector and relevant institutions to improve the storage of
grains, inputs and service markets, and mechanisms to share information
and coordinate amongst market actors. The programme’s aim is to increase
regional trade, enabling more market actors to financially benefit from
the trade expansion.
In subsequent Challenge Fund rounds FoodTrade ESA has made investments
in nine (9) companies to develop innovative solutions that deliver
commercial benefits to trade actors, especially smallholder farmers, and
works to catalyse greater regional trade by influence positive policy
changes.
This Challenge Fund window will award grants from £100,000 to £1,000,000
to for-profit companies doing business in two or more countries covered
by FoodTrade ESA that propose innovative investments that address grain
aggregation processes that enforce grades and standards at the farmer
and sub-market level. Extra consideration will be given to companies
whose innovations specifically target women farmers, to women-owned
companies and companies whose innovations focus on Kenya, Uganda and
Tanzania.
Applicants can apply directly using an on-line application form available at www.foodtradeesa.com. Applications must be received no later than midnight East Africa time on 8 May 2015.
For enquiries on applying, please contact info@foodtradeesa.com
